CEOs are feeling less confident in Q3 than they did in Q2, but they're still "moderately optimistic," according to the latest joint survey from The Conference Board and The Business Council.

The "Measure of CEO Confidence" ticked lower to 52 in the third quarter, down from 54 in the second quarter, but still above 50, which is the breakeven point.

The Conference Board CEO and president Steve Odland says that CEOs are more positive about the outlook six months out than they are about the current situation because when the Federal Reserve cuts rates, it will spur the economy. Odland notes that a year ago, many of the CEOs were expecting a recession, but that with wages still rising, inflation coming down, and the Fed poised to cut, "this is what a soft landing looks like."

On the job market, Odland believes that companies are not doing layoffs right now because after going through COVID and experiencing both skill shortages and worker shortages, they don't want to give up employees unless they have to.

Watch the video above to hear what CEOs say they are most concerned about.

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This post was written by Stephanie Mikulich.